IN BRIEF:

Crisil lowers IDFC's debt rating

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New Delhi, pti:,

Jul 22 2009, 22:23pm ist

updated: Jul 22 2009, 22:23pm ist

“The downgrade primarily reflects the delay in IDFC’s capital-raising. As a result, the institution’s capitalisation is likely to remain short of Crisil’s earlier expectations, and below the levels that supported the earlier rating,” Crisil said.

It believes that the delay in raising capital will strain IDFC’s capitalisation over the medium term. “...delay in capital infusion, in combination with increased disbursements, will result in a reduction in IDFC’s capitalisation ratios over the medium term,” it said.

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